A new research conducted by accounting firm PricewaterhouseCoopers (PwC) has forecast that the flame of economic high that Australia is currently enjoying will fizzle and burn out by 2050.
The project, called Next Generation Bank Notes, proposed the use of polymer and features new portraits designed to capture Australian characteristic with youthful and energetic design qualities. It also aimed to reduce the risk of counterfeiting by having new security features on design elements such as colour, size and portraits on the money.
The RBA initially proposed removing Queen Elizabeth II from the $5 bill and replacing her with different subjects such as Henry Parkes, the father of federation, but set aside the idea in 2011. The printing of the new notes, which the RBA has been working on the past five years, is two years behind schedule but so far has cost $9.3 million.
News.com.au quoted its Facebook page on the comments of over 100 people who posted their thoughts. The commenters said the faces on the proposed notes were outdated and they proposed other prominent Australians such as Slim Dusty, Steve Irwin, Peter Brock and former Prime Minister John Howard.
Among those figures whom commenters could not identify is Mary Gilmore on the $10 bill, one of the country's most popular poets in the early 20th century. However, one commenter said she thought Ms Gilmore was actress Cate Blanchett.
The RBA actually evaluated three concept designs but selected one designer to continue on refining the final appearance of the new currency.
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